Are the financial statements of Perfection Bakeries, Inc. the same as Aunt Millies Bakeries?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
To simplify the language in this Franchise Disclosure Document, "Perfection," "Aunt Millie's Bakeries," "we," or "us" means Perfection Bakeries, Inc., the franchisor. "You" or "Distributor" means the corporate entity who buys the franchise, as well as the entity's owners.
Perfection Bakeries, Inc. was created as an Indiana corporation on March 24, 1903. In 2005 it adopted the trade name of Aunt Millie's Bakeries and conducts business under that name.
Our Parent Company or Predecessors
We do not have any parents or predecessors.
Our Affiliates
Our affiliate, Perfection Distribution LLC ("PD LLC"), was organized as an Indiana limited liability company on September 7, 2005. PD LLC owns and operates the delivery trucks that will deliver products to the depots, where the Distributors will pick up their baked goods for distribution to the ultimate wholesale customers.
Our affiliate, First Capital Acceptance Corp. ("First Capital"), an Indiana corporation incorporated on March 21, 2006, offers financing to you in connection with your initial Franchise Fee (see Item 10).
Addresses, Agents for Service of Process
The principal address for Aunt Millie's Bakeries and all its affiliates is 230 Bluffton Road, Fort Wayne, Indiana 46809, Fort Wayne, Indiana 46809. Our agents for service of process in specific states are disclosed in Exhibit A.
Franchisor's Business and Franchise to Be Offered
Aunt Millie's Bakeries manufactures and distributes fresh bakery brand products to food outlets, restaurants and institutions primarily in the states of Indiana, Kentucky, Michigan, Ohio, and Illinois. We have also acquired from third parties and their related entities the exclusive rights to distribute some of those companies' products to certain outlets in certain territories.
Beginning in March of 2006 we started establishing a network of corporate independent distributors (franchisees) in parts of the states of Indiana, Kentucky, Michigan, Ohio, and Illinois.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 43)
What This Means (2025 FDD)
According to Aunt Millie's Bakeries' 2025 Franchise Disclosure Document, the financial statements provided are those of Perfection Bakeries, Inc. The FDD clarifies that "Perfection," "Aunt Millie's Bakeries," "we," or "us" refers to Perfection Bakeries, Inc., the franchisor. This indicates that Aunt Millie's Bakeries operates under the legal entity of Perfection Bakeries, Inc.
The consolidated financial statements include the accounts of Perfection Bakeries, Inc., along with its wholly-owned subsidiaries: Perfection Distribution LLC, Perfection Associates LLC, and First Capital Acceptance Corporation. These entities operate under common management and ownership. Perfection Distribution LLC handles transportation and distribution, Perfection Associates LLC previously functioned as an employee leasing company (merged into Perfection Bakeries, Inc. on December 1, 2023), and First Capital Acceptance Corporation provides financing to independent distributors.
The financial statements consist of consolidated balance sheets as of September 30, 2024 and 2023, and the related consolidated statements of income, comprehensive income, and cash flows for the years then ended, including notes. Independent auditors have audited these statements and have issued their opinion that the statements present fairly the financial position of Perfection Bakeries, Inc. in accordance with accounting principles generally accepted in the United States of America.